2016 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Sullivan
Virginia Energy Efficiency Revolving Fund

Item 476 #2h

Item 476 #2h

First Year - FY2017 Second Year - FY2018
Central Appropriations
Central Appropriations FY2017 $8,250,000 FY2018 $0 GF

Page 405, line 32, strike "$17,596,330" and insert "$25,846,330".

Page 408, after line 12, insert:

"K. Consistent with the provisions of House Bill 493 of the 2016 General Assembly, the Director, Department of Planning and Budget, shall transfer from this item, $8,250,000 the first year from the general fund to the Virginia Energy Efficiency Revolving Fund."


(This amendment provides a general fund appropriation to the Virginia Energy Efficiency Revolving Fund, managed by the Virginia Resources Authority, as would be established under House Bill 493. The bill establishes the Fund to provide no-interest revolving loans to local governments and institutions of higher education to finance or refinance the costs of energy efficiency related projects. The Fund would in the first and subsequent years, receive 40 percent of recordation tax collections in excess of $325 million in a given fiscal year.)